(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 2. Masdar, a leading global clean energy company, has closed the acquisition of a 49.99% stake in a 368 million euro portfolio of four operational solar PV plants from Enel Green Power España, a subsidiary of Endesa, Trend reports.

The deal adds 446 MW of solar capacity to Masdar's European portfolio and underscores its commitment to expanding renewable energy in Spain and across Europe.

The transaction involves 69 million euros in equity from Masdar and 115 million euros in acquisition financing. It follows Masdar's earlier acquisition of a 49.99% stake in 2 GW of solar assets from Endesa in 2024, one of Spain's largest renewable deals, which also includes plans for up to 0.5GW of battery storage. With this latest move, Masdar's gross operational capacity in the Iberian Peninsula has reached 3.2 GW, with more than 2 GW in the pipeline.

“This acquisition is aligned with Masdar's global strategy to expand renewable capacity and further demonstrates our long-term commitment to Europe,” said Mohamed Jameel Al Ramahi, CEO of Masdar.“Spain will continue to be a key focus for Masdar as we contribute to decarbonizing the energy grid and advancing EU climate targets.”

Enel Group CEO Flavio Cattaneo welcomed the deal, calling it “another milestone in Enel's long-term partnership with Masdar” and stressing the shared goal of accelerating the energy transition.

Spain remains central to Masdar's European growth platform, supported by the company's 1.2 billion euros acquisition of Saeta Yield in 2024, which established Masdar's regional operating hub with a 2.3 GW portfolio.

The deal is backed by financing from BNP Paribas, Santander, Intesa Sanpaolo, ADCB, and FAB, with advisory support from BNPP, Linklaters, UL, and PwC.

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